India expands LNG sourcing network from 6 to 15 countries, crude oil from 27 to 41 amid geopolitical risks
India has expanded its LNG sourcing network from 6 to 15 countries and crude oil sourcing from 27 to 41, the government told Rajya Sabha. The move aims to reduce dependence on specific suppliers and transit routes amid geopolitical risks.
India has expanded its sources of both liquefied natural gas (LNG) and crude oil to 15 and 41 countries respectively, aiming to mitigate the risk of supply disruptions due to geopolitical tensions and maritime transit challenges, according to the Indian government. Minister of State for Petroleum and Natural Gas Suresh Gopi disclosed this information in a written reply to the Rajya Sabha.
This diversification in sourcing is intended to lessen India's reliance on any single source, region or transit route, thereby enhancing the country's capacity to manage supply disruptions and market volatility.
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